Ola Electric, a leading electric two-wheeler maker in the country, has announced its financial results for FY2025. Although the company continued its leadership position in the market, its revenue fell marginally to INR 46.45 billion in FY2025 from INR 51.26 billion last year.

In spite of the revenue drop, Ola Electric continued its leadership in the electric scooter segment, shipping 359,221 units in FY2025, compared to 329,549 units in FY2024. The growth came mainly from the strong performance of its enhanced Gen 3 S1 scooter range, allowing the firm to attain 30 percent market share, based on VAHAN data.

The company stated it is making a big push towards profitability, led by two main internal initiatives: ‘Project Lakshya’ and ‘Project Vistaar.’

Under Project Lakshya, Ola Electric has a target cost structure of INR 1.10 billion for its auto business. The company has been able to bring down costs impressively to INR 1.21 billion in April 2025 and is likely to reach the INR 1.10 billion target in June 2025.

To supplement this, Project Vistaar, launched in November 2024, was network transformation-centric. The effort has significantly enhanced delivery time (from 12 days to 3-4 days), optimised inventory management and facilitated same-day delivery through its "HyperDelivery’ facility. Consequently, Ola Electric grew its footprint to emerge as India's largest EV distribution network in FY2025 with over 4,000 touchpoints, of which over 50 percent were in Tier 3 and rural markets.

These strategic actions have helped Ola Electric lower its auto segment EBITDA break-point structurally to below 25,000 units per month. This reduced level, combined with expected industry expansion, growing S1 market share, and the recent launch of motorcycles, sets the company up to achieve Auto segment EBITDA profitability during FY2026.

Ola Electric stated that early signs in April and May 2025 indicate encouraging business traction, with higher Gross Margins (excluding the benefits of PLI) and lower operating expenses. The company also noted stronger monetisation through add-ons, with Gen 3 sales more than doubling that of Gen 2. Encouraging demand for the recently launched Roadster Motorcycles is also supporting this encouraging trend. It expects this healthy performance to sustain, resulting in Auto segment EBITDA profitability in FY2026.

The launch of the Gen 3 S1 portfolio in Q4 FY2025 contributed significantly to the company's enhanced Gross Margins. For Q1 FY2026 posted a further 10 percentage point increase in Gross Margins over Q4 FY2025. This result will benefit further from the ramp-up in the Gen 3 platform. Significantly, the gross margins as of date do not account for PLI benefits for Gen 3, which will accrue in Q2 FY26. The company estimates its Gross Margins to be around 35 percent for Q2 FY2026 with PLI.

Ola Electric's S1 lineup continues to be extensive, with almost 1 million units sold in 14 products in Gen 2 and Gen 3. The Gen 3 platform provides 20 percent more peak power, 20 percent more range and an 11 percent price cut compared to its predecessor. The company further pushed mass segment EV penetration via its S1 X, which experienced a 3.5x year-on-year rise in deliveries to 196,123 units in FY25.

It was just recently that the company has begun deliveries for the Roadster X electric motorcycle, which it said addresses a significantly underpenetrated segment. The Roadster X comes with a mid-drive motor, chain drive, and onboard MCU for improved performance and safety. A first in the industry in the Roadster X series is the implementation of flat cables in the motorcycles.

The company is also scaling up output at its Ola Gigafactory, with the yields of its indigenously created ‘Bharat Cell’ continuing to improve. The cell is under rigorous testing of performance, lifecycle, safety and phased commercialisation can be anticipated in the months ahead. The phased rollout strategy is designed to balance supply chain synergies, maintain quality consistency and collect real-world performance data prior to mass commercialisation.

Ola Electric indicates that FY2026 will be a year of scaling revenue and riding operating efficiencies to drive sustainable profitability. With a strong product roadmap, vertical integration, strong R&D emphasis and building out distribution and service infrastructure.

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Eicher Trucks & Buses, a division of VE Commercial Vehicles (VECV), has successfully completed a landmark journey from Kashmir to Kanyakumari (K2K) with its Eicher Pro X EV.

The expedition, titled #XpertHaiTohPossibleHai, saw the electric commercial vehicle become the first and fastest in its category to traverse the 4,100-kilometre route under fully loaded conditions.

Starting from Lal Chowk, Srinagar, and concluding at the southern tip of India in six days, the journey was independently adjudicated by the India Book of Records, resulting in four new national records. The initiative was designed to address industry concerns regarding range anxiety, charging infrastructure and the operational reliability of electric vehicles (EVs) in the B2B sector.

The journey tested the vehicle across India’s most diverse terrains and climates, including the Himalayas, the Deccan Plateau and coastal ghats. The Eicher Pro X EV travelled through temperatures ranging from -2deg Celsius to 40deg Celsius. The EV relied entirely on public charging stations, coordinated through the MyEicher App. The trip was conducted with the vehicle at full load capacity to simulate authentic logistics operations.

Abhishek Chaudhary, SVP, SCV - Sales & Marketing, VECV, said, “The K2K milestone is a strong validation of the Eicher Pro X EV’s engineering capability under real-world operating conditions. The initiative not only builds confidence in electric mobility as an economical source of providing logistical solution but also strengthens trust through proof, not promise.”

Eicher collaborated with commercial vehicle influencer Raman Nayak (Behind The Wheels) and a network of regional creators to document the journey. The multi-episode series focused on the practicalities of EV ownership, such as route planning and terrain management, presented in local languages to reach a broader demographic of fleet operators.

Bhagwan K. Bindiganavile, EVP – Strategic Planning, Brand & Communications, VECV, said, “In the commercial vehicle industry, trust is built through proof. Taking a production vehicle on a journey of this scale was a deliberate move to move beyond conventional marketing and demonstrate capability in a real, unfiltered and conclusive manner.”

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Bengaluru-headquartered electric two-wheeler maker Ather Energy has announced that its first family electric scooter, the Rizta, has crossed the 300,000-unit sales milestone within just two years of its April 2024 launch.

The e-scooter has become Ather’s primary volume driver, significantly accelerating the company's growth in both its home markets and new regions.

The Rizta reached 200,000 units in December 2025 and added the most recent 100,000 units in just five months, reflecting a rapid surge in demand for family-focused electric mobility.

The Rizta has been instrumental in Ather’s ‘Middle India’ strategy, focusing on states like Maharashtra, Gujarat, Madhya Pradesh, Chhattisgarh and Odisha. In these regions, Ather's market share shot up from 4.1 percent (Q1 FY25) to 17.3 percent (Q4 FY26). In Northern states, including Punjab, Rajasthan and Uttar Pradesh, market share grew more than threefold during the same period.

In its home base of Southern India, the Rizta helped Ather retain its leadership position, contributing to a regional market share of 23.5 percent in Q4 FY26.

Interestingly, nearly 70 percent of Rizta owners are families with children, moving away from Ather's traditional enthusiast-only demographic. The e-scooter's success is attributed to its 56-litre total storage, spacious seat and safety features like SkidControl. In FY2026, the Rizta accounted for approximately 76 percent of Ather’s total sales volume.

Ravneet Singh Phokela, Chief Business Officer, Ather Energy, said, “Since its launch, the Rizta was sharply positioned as a family scooter and has resonated extremely well with the family audiences across the country. The Rizta has helped us gain a leadership position in FY2026 in Southern India. Additionally, the Rizta has played a crucial role in expanding our market share in ‘middle India’ by 4X since its launch in Maharashtra, Gujarat, Madhya Pradesh, Chhattisgarh, and Odisha. In FY '26 the Rizta constituted about 76 percent of our portfolio and continues to lead our growth.”

Ather has maintained strong customer engagement through its AtherStack software. In September 2025, the company released AtherStack 7 via an over-the-air (OTA) update. This update introduced a touchscreen interface for existing Rizta Z models, pothole alerts & voice commands and advanced safety features including crash alerts, ParkSafe tow-zone detection and LockSafe theft prevention.

This milestone comes as Ather prepares to enter the mass-market segment with its upcoming EL platform and expands production capacity through its Factory 3.0 facility at AURIC, Maharashtra.

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Hyroad Energy has entered into an agreement with Toyota Motor North America to deploy 40 hydrogen fuel cell Class 8 trucks in Southern California. The announcement took place at the ACT Expo, where the companies outlined a framework covering vehicles, software, and fuel supply.

As per the understanding, Hyroad will provide the trucks along with maintenance and data services for Toyota’s logistics operations. On the other hand, Toyota will supply the hydrogen fuel via its refuelling infrastructure currently being developed in Ontario, California.

The fuel cell trucks offer a claimed driving range of up to 500 miles (804km) and refuelling time of 15-20 minutes, comparable to diesel vehicles. However, the trucks emit only water vapour. Each Class 8 truck carries approximately 70 kg of hydrogen, equivalent to the capacity of 12 Toyota Mirai sedans.

Hyroad operates as an equipment-agnostic provider, bundling vehicle procurement, maintenance and fleet management software. In August 2025, the company acquired 117 hydrogen trucks and intellectual property assets from the Nikola Corporation bankruptcy auction. It now provides parts and support services for existing Nikola truck owners alongside its own fleet operations.

“Accelerating the hydrogen economy requires collaboration, and Toyota is proud to work with Hyroad to move the heavy-duty sector forward,” stated Toyota in a release.

Dmitry Serov, Founder & CEO, Hyroad Energy, said, “Toyota has done exactly what great allies do — they've brought genuine hydrogen expertise to the table and made thoughtful, strategic decisions. They're not waiting for someone else to build this ecosystem. They're investing in it directly, and that's what makes this meaningful. When fuelling, vehicles, software and operational commitment all come together, hydrogen trucking works."

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BYD has claimed the title of the United Kingdom’s leading electric vehicle brand for 2026, surpassing established rivals including Tesla, BMW, KIA and Volkswagen. Official figures show the Chinese automaker has registered 12,754 battery-electric cars since the start of the year. This achievement is particularly notable as BYD has simultaneously become the top choice among private EV buyers, a feat accomplished despite being excluded from the government’s official Electric Car Grant scheme.

The brand’s broader success extends to its plug‑in hybrid lineup, marketed under the DM‑i dual‑mode intelligent system. Combining fully electric and hybrid sales, BYD has delivered 26,396 new energy vehicles in the UK year‑to‑date, capturing a 9.5 percent share of the national market. Three DM‑i models are currently available – SEAL U, SEAL 6 and SEALION 5 – with the ATTO 2 and additional models scheduled to arrive soon. The overall UK EV market has expanded by 22 percent, reflecting rising consumer appetite for sustainable transport.

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Bono Ge, Country Manager, BYD UK, said, “With fuel prices remaining high, more drivers are turning to electric vehicles as a smarter and more economical choice. We are delighted to see the UK EV market grow by 22 percent year-on-year, and even more proud that BYD has become the UK’s leading EV brand in a little over three years. At BYD, we are committed to delivering outstanding value through high-tech electric vehicles that combine innovation, quality and affordability. But our ambition goes beyond building great cars.

“We are also bringing advanced technologies that unlock the full value of electrification, including Vehicle-to-Grid solutions that can help customers optimise energy use and reduce costs. In parallel, BYD has been deploying home and utility-scale energy storage solutions to support a more efficient and affordable energy ecosystem. Looking ahead, we also plan to introduce our breakthrough FLASH Charging, capable of charging a vehicle from 10 percent to 97 percent in just nine minutes.”

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